OMV

01 February 2015

OMV started producing oil from the Maari Growth Project at Maari field, 80 km offshore south New Zealand. The campaign includes drilling of five wells into producing and new reservoirs and will represent a USD-205-million investment by the time it reaches its conclusion in the first half of 2015. The first well, MR-8A was sidetracked out of an abandoned injection well and drilled horizontally into the Moki formation. It is estimated that MR-8A will achieve a 4,500-B/D peak flow rate. OMV (69%) operates the project with partners Todd Maari (16%), Horizontal Oil (10%), and Cue Taranaki (5%).